Sadbhav’s overall operational projects portfolio could potentially have an equity IRR of about 16% and P/B valuation of about 2X. This is despite the near-term traffic / toll collection disappointments witnessed in the projects, attributed to the broad economic slowdown, and some one-off issues (in Aurangabad-Jalna project).

Sadbhav’s under-construction projects require an incremental equity commitment of Rs 3.8-4 bn, to be infused over the next Read more